Forex by Lucky Room » Shay Greenberg

India: Over the forecasts the growth rate

Shay Greenberg — Wed, 31 Aug 2011 11:40:43 +0000

Faster than expected “ran” the Indian economy last quarter, keeping the pressure on the central bank to continue raising interest rates despite a weak global economy. As announced by the statistical office of the country, GDP grew by 7.7% in the quarter until June 30 compared with a year earlier. The first quarter of the year had risen 7.8%. Please note that analyst estimates were for GDP growth of 7.6% yoy in the second quarter. Last week, the Reserve Bank of India said that consumption in the country “remains strong” thanks to higher wages and estimated that inflation may remain high in the short term.

Barack Obama: US Economy is recovering slowly from a Heart crisis

Shay Greenberg — Wed, 31 Aug 2011 11:39:01 +0000

“Heart crisis” – which is recovering too slowly, the U.S. economy has suffered, said yesterday the U.S. president, Barack Obama, who is preparing to present a new recovery plan. “Going through its worst economic crisis since the Great Depression (crisis of 1929) and after recessions and financial crises have passed, the patient needs time to recover,” explained Bush, speaking at a radio station. “Our economy has suffered a cardiac crisis, the patient is still alive, doing better but too slowly recovering,” he added. Obama is going to present next week a new plan to tackle the deficit and unemployment. The Republicans, who have a majority in the House of Representatives have already expressed their opposition to the measures to be announced by the President. According to Republicans, the solution lies in less mixing of the federal state in economic life of the country.

As many forex vrokers stated: Investors that are involved in the forex market are unwilling to buy USD due to the imminent third quantitive easying by the fed.

Gergk Asmousen: Certain for a solution to the issue of guarantees for Greece

Shay Greenberg — Wed, 31 Aug 2011 11:35:32 +0000

Optimistic that we will resolve the issue of guarantees on the second loan to Greece, because he said there is time for this to happen, appeared Deputy Finance Minister of Germany, Gergk Asmousen. At the same time Finance Minister Ev. Venizelos clarified that guarantees to Finland will be apoleistika financial nature. “We have some time, because the second assistance program (note: for Greece) will not reach us before October, but I am convinced that we will find a solution,” said Mr. Asmousen statements in television network of CNBC, who relayed to Reuters.

He also noted that the European Instrument for Stability, which will be the permanent financing fund since 2013, will not include conditions for the possibility of leaving a country-member eurozone. On Tuesday, Finnish Prime Minister Girki Katainen said it is a matter of days or weeks on a solution for guarantees on a second rescue package to Greece. “I can not say that will happen today, but it is a matter of days or weeks because the parliaments will begin to address this aid package for Greece and, before that, the issue of guarantees should of course be made clear,” stated according to a Finnish website.
It is no secret that the markets (stock and forex) are waiting for clear and final decisions regarding the issue of the greek debt as well the situation in Portugal, ireland and Spain.

Swiss Franc stregthened against EUR and USD

Shay Greenberg — Wed, 31 Aug 2011 11:31:56 +0000

Fall noted the euro and the dollar against the Swiss franc in the forex market as the developments in Italy have rekindled concerns about the debt crisis in the eurozone. The single European currency earlier fell 1% to the 1.1705 francs, while the dollar was at 0.8108 francs retreating from a high of 0.8239 francs to which climbed Monday. In Italy, yesterday’s bond auction did not attract much interest. Pressures in the euro were also indications on the withdrawal of Italian government from its financial targets. At 12:49 (GMT), the euro / dollar stood at $ 1.4438 while the dollar / yen stood at 76.56 yen.

“Smiles” in Europe from the auction of Italy

Shay Greenberg — Wed, 10 Aug 2011 12:01:25 +0000

The significant drop in borrowing costs in Italy gives boost to Euro markets and back into positive territory and profits of more than 1%. Positive reaction to this morning’s decision of the Fed, and now felt the volatility. Specifically, the Fed officials pledged to keep interest rates at extremely low current levels “until at least mid-2013,” indicating that operators will continue to support efforts to stimulate the ailing U.S. economy. “This was a clear message for buyers to return to the forex market,” says the IG Markets. He adds that investment portfolios are “wounded” by the events of the past two weeks, but many hope the Fed drew a line down the fall and attention can now turn to the reconstruction of global economic growth. In Italy Treasury raised 6.5 billion through Treasury Bill Auction 12 months, with significantly reduced performance 2.959% from 3.670%. The supply of Treasury bills were covered by 1.94 times. On the dashboard, the estimator of the state of the stock markets of member countries of the Eurozone, the Euro Stoxx 50 recorded losses of 1.25%. In London the FTSE 100 recorded an increase of 1.64% . The German DAX is reinforced at a rate of 2.64%, while in Paris the CAC-40 moved to 1.20%. Gains 0.92% notes IBEX in Spain, at a rate of 0.15% supported by the Italian MIB, while in Portugal, the PSI record 3.38% rise. The Swiss SMI strengthened 0.97%. Positive signs show the indicators in Russia, the RTS at 0.53% and 0.16% in Micex. In Turkey, the ISE index supported at a rate of 0.73%. In the currency market, the central bank of Switzerland SNB said it would take measures to stop the excessive rise of the franc, providing greater liquidity, and will bring forth the FX swaps to first time since autumn 2008. As a result, the franc is moving downwards against major currencies. The macro of the day, industrial production in France, the second biggest eurozone economy, fell more than economists expected in June, due to lower production of transport equipment and electronics goods. The production fell 1.6% compared with May, when it had risen by 1.9% (revised measure), according to national statistics office Insee. Economists had predicted a fall of 0.7%. Compared with last year, production increased 2.3%.

Sarkozy: plans new meeting of the economic team

Shay Greenberg — Wed, 10 Aug 2011 11:56:00 +0000

The Frence president, Nicolas Sarkozy, interrupt his summer holidays and convene an extraordinary meeting of the economic staff of the French president, according to a report in the French News Agency. In a statement the office of French President, according to the same publication, indicated that Sarkozy will meet with ministers and the commander of the French Central Bank to discuss the situation of uncertainty emerging in the global economy. Present at the meeting, according to AFP, will be Finance Minister Francois Baroin, the Budget Minister Valerie Pecresse, Foreign Minister Alain Juppe and European Affairs Minister Jean Leonetti.

Juncker: Early July the specific terms for the participation of individuals

Shay Greenberg — Mon, 20 Jun 2011 14:43:31 +0000

The leaders of the Eurozone will shape the final terms of the program of “voluntary” participation of bondholders for the new rescue package for Greece in July, said the head of the Eurogroup Jean-Claude Juncker after a meeting of finance ministers of the euro at Luxembourg. “In early July we will consider private sector participation, but should be voluntary,” said Juncker, as the broadcast Dow Jones Newswires. He added that the size of the financial participation of private creditors has not yet cleared out. This is another support statement towards Euro which on the forex market it is trading at 1.4200 against the USD.

Wal-Mart: Complete the acquisition of 51% of Massmart to South Africa

Shay Greenberg — Mon, 20 Jun 2011 14:34:46 +0000

On completion of the acquisition of 51% of Massmart’s South Africa announced that Wal-Mart.As broadcast foreign news agencies, the competent competition authorities have approved the offer of $ 2.4 billion last month, setting a minimum requirements, although the government reserves the right to take legal action against the agreement . The largest supermarket chain in the world’s communication states that the acquisition was completed and he expects to create thousands of jobs and support local suppliers. The Wal-Mart retained the post of the chairman Mark Lamberti and placed on the Boardcompany’s own three strains. If you are a webmaster then join the top forex affiliate program and turn your traffic to revenue.

Bini Smaghi: The ECB will not breach its regulations

Shay Greenberg — Thu, 16 Jun 2011 14:40:13 +0000

The ECB will not break the rules of the European Central Bank on the financing of Greece or any other country, according to today’s statements by ECB Executive member Lorenzo Bini Smaghi, according to Reuters. “Asking the ECB, as was recently stretched to the maturity of government bonds held by or accept as security by a state which is bankrupt, is the principle whereby the European Central Bank is prohibited to finance an Treasury ‘ said Bini Smaghi in a speech to the Vatican. “Any pressure such flouting regulations to protect the independence of the ECB,” he said.

Turbulence in the European markets because of Greece

Shay Greenberg — Thu, 16 Jun 2011 14:34:24 +0000

The turbulence created in the Eurozone by the Greek crisis and the failed efforts of “common sense” from the Europeans and the Greek officers, creates a climate of intense nervousness in European stock markets Thursday. The risks increase as the Greek position becomes increasingly difficult and it seems that in the coming weeks might be a dramatic end to another chapter of the continuing debt crisis of Europe, says Jim Reid of Deutsche Bank. “We believe that the sentence reflects the facts before the collapse of Lehman Brothers, where, although the markets were very nervous, in fact we all waited for a buyer last minute. It is likely that most parties involved know the impact after the Lehman, but now are more people who agree to be compared to the last days of Lehman », added Reid. On board, the assessor of the state of stock markets in member countries of the Eurozone, the Euro Stoxx 50 lost 0.92% record. In London the FTSE 100 is by falling 1.51% – additionally the Euro is recording losses against all the major international currencies in the forex market. The German DAX declining at a rate of 0.95%, while in Paris the CAC-40 moved to -1.28%. Losses of 0.82% notes IBEX in Spain, 0.98% decline in the Italian MIB, while the
Portugal, the PSI record drop 1.15%. The Swiss SMI yields 1.21%. Negative signs have indices in Russia, the RTS to -2.21% and -1.38% in Micex. In Turkey ISE index declining at a rate of 1.61%.

The daily macros showed that the number of employees in the euro area changed little in the first quarter of 2011 as employment growth in Germany and France, offset by a decline in other countries such as Greece, Spain and Italy. The European Statistical Office announced today that the number of employees amounted to 146.5 million people in the Eurozone. The last quarter of 2010 the number of employees was at 144.8 million people.